Freeport-McMoRan Inc. (NYSE:FCX) Shares Purchased by Sage Mountain Advisors LLC

Sage Mountain Advisors LLC grew its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 10.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,422 shares of the natural resource company’s stock after purchasing an additional 856 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Freeport-McMoRan were worth $359,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Asset Planning Inc purchased a new position in shares of Freeport-McMoRan in the 4th quarter valued at $25,000. Vision Financial Markets LLC acquired a new position in Freeport-McMoRan in the fourth quarter valued at $27,000. Laurel Wealth Advisors LLC grew its holdings in shares of Freeport-McMoRan by 487.8% during the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock worth $28,000 after purchasing an additional 600 shares during the last quarter. Roxbury Financial LLC acquired a new stake in shares of Freeport-McMoRan during the fourth quarter worth about $28,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Freeport-McMoRan in the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analysts Set New Price Targets

FCX has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price target on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Dbs Bank upgraded shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday. Jefferies Financial Group upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and upped their price target for the company from $40.00 to $48.00 in a research report on Thursday, February 27th. BMO Capital Markets decreased their price target on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Finally, Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.75.

Freeport-McMoRan Stock Performance

NYSE FCX opened at $35.88 on Wednesday. The stock has a market capitalization of $51.55 billion, a price-to-earnings ratio of 27.81, a PEG ratio of 0.87 and a beta of 1.87. The business’s 50 day moving average is $37.94 and its two-hundred day moving average is $42.22. Freeport-McMoRan Inc. has a 12-month low of $33.98 and a 12-month high of $55.24. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. Research analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals. The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.